Alpha Omega Wealth Management LLC Sells 1,058 Shares of Abbott Laboratories (NYSE:ABT)

Alpha Omega Wealth Management LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,861 shares of the healthcare product maker’s stock after selling 1,058 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Abbott Laboratories were worth $2,516,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Rappaport Reiches Capital Management LLC raised its holdings in shares of Abbott Laboratories by 0.8% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock worth $1,352,000 after purchasing an additional 94 shares during the period. Avion Wealth raised its holdings in shares of Abbott Laboratories by 19.4% in the 4th quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock worth $65,000 after purchasing an additional 96 shares during the period. Patriot Investment Management Group Inc. raised its holdings in shares of Abbott Laboratories by 3.1% in the 4th quarter. Patriot Investment Management Group Inc. now owns 3,236 shares of the healthcare product maker’s stock worth $356,000 after purchasing an additional 96 shares during the period. Shepherd Financial Partners LLC raised its holdings in shares of Abbott Laboratories by 4.5% in the 4th quarter. Shepherd Financial Partners LLC now owns 2,275 shares of the healthcare product maker’s stock worth $250,000 after purchasing an additional 99 shares during the period. Finally, Renaissance Investment Group LLC raised its holdings in shares of Abbott Laboratories by 0.7% in the 4th quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock worth $1,563,000 after purchasing an additional 100 shares during the period. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the sale, the executive vice president now owns 125,697 shares in the company, valued at $14,895,094.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the sale, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The disclosure for this sale can be found here. Insiders sold a total of 56,435 shares of company stock valued at $6,451,298 over the last three months. Corporate insiders own 0.47% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT traded up $0.32 during mid-day trading on Wednesday, reaching $109.21. 7,283,867 shares of the stock traded hands, compared to its average volume of 5,461,397. The firm has a fifty day moving average price of $114.57 and a 200 day moving average price of $107.60. The company has a market cap of $189.50 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 2.62 and a beta of 0.74. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.19. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.19 billion. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. As a group, equities research analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s payout ratio is currently 67.48%.

Wall Street Analyst Weigh In

ABT has been the topic of a number of research reports. Evercore ISI lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Citigroup boosted their target price on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Raymond James boosted their target price on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Barclays boosted their target price on shares of Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Finally, TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $122.14.

Abbott Laboratories Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.